Commerce Minister Tipu Munshi seeks duty free cotton from USA

Two-day 4th global cotton summit begins in Dhaka

Desk Report: Bangladesh is the second largest exporter of ready-made garments in the world. About 82 per cent of Bangladesh’s total exports come from RMG. The USA is a major cotton producer. Every year, Bangladesh imports a huge amount of cotton from different countries for use in garment factories. If the USA grants Bangladesh duty-free trade facilities for the import of cotton for use in RMG factories, it will benefit our industry,said Commerce Minister Tipu Munshi MP.

Photo: BCA President, Association leaders ,Ambassador of Brazil, Australian High Commissioner; Head of mission US Embassy, BoD of BCA were present .

He said this while speaking as chief guest at the ‘4th Global Cotton Summit Bangladesh-2023’ organised by Bangladesh Cotton Association in collaboration with Bangladesh Textile Mills Association at the Hotel Radisson Blue Water Garden in the city, said a press release.

In his speech, Tipu said that Bangladesh needed nine million belts of cotton to export RMG to the world market. Out of this, only 1,50,000 belts of cotton are produced in the country and the production is about 1.6 per cent of the total demand, he added.

The summit would provide “good opportunity” to the spinners and cotton traders to share their “knowledge, ideas and requirements with the foreign partners and suppliers”. Bangladesh is one of the largest cotton importers in the world, as the country produces one percent of the total requirement of cotton for making yarns and fabrics for clothes.